According to Article 70 of the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks, under special circumstances, if it is confirmed that the credit card debt exceeds the cardholder's repayment ability and the cardholder still has the willingness to repay, the issuing bank can negotiate with the cardholder on an equal footing and reach a personalized installment repayment agreement. The longest term of personalized installment repayment agreement shall not exceed 5 years. The contents of personalized installment repayment agreement shall at least include:
(a) the balance, structure and currency of the arrears;
(2) the repayment period, method, currency, date and repayment amount of each installment;
(three) whether to charge annual fees, interest and other fees during the repayment period;
(4) The cardholder shall not apply for a credit card from any bank before all the funds related to the personalized installment repayment agreement are settled;
(five) the rights and obligations of both parties and the liability for breach of contract;
(6) Other matters related to repayment.
If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing service institution shall stop the collection of the cardholder, except that the cardholder fails to perform the installment repayment agreement. If an oral repayment agreement is reached, the issuing bank must keep the recorded data. Records shall be kept at least until the date of settlement of arrears.
Extended data:
Article 84 of the General Principles of Civil Law of People's Republic of China (PRC) refers to the specific rights and obligations between the parties according to the provisions of the contract or the law. Creditors are creditors and debtors are debtors. The creditor has the right to require the debtor to perform its obligations in accordance with the contract or according to law.
Article 108 A debt shall be paid off. If it is temporarily unable to repay, it may be repaid by the debtor in installments with the consent of the creditor or the ruling of the people's court. Those who have the ability to repay and refuse to repay shall be forced to repay by the people's court.
Baidu Encyclopedia-Measures for the Supervision and Administration of Credit Card Business of Commercial Banks